Wakefield Council is probing the alleged incident, which is said to have happened in December.
It is claimed that the passenger was left on the A655 between Wakefield and Normanton after an argument over the fare, at around midnight.
The police were contacted about the allegation, which was revealed at a licensing committee meeting on Wednesday afternoon.
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In a briefing to councillors on recent activity in the Wakefield district , licensing enforcement officer Paul Dean said: "We're investigating an incident where a driver abandoned a vulnerable female on an isolated country lane late at night over a fare dispute.
"I believe the police have been told that he took her mobile phone from her as well."
Mr Dean also said the council is investigating another incident where a driver is alleged to have used "discriminatory" language to abuse a disabled female passenger.
It's claimed the cabbie refused to give the elderly woman a lift when she was unable to get to the car where it was parked.
Local Democracy Reporting Service